Regulatory Alerts2025-03-06
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Licensing Guide for Exchange Companies - 2023
The Central Bank of Jordan has issued a new Licensing Guide for Exchange Companies, effective August 23, 2023, to align with the Exchange Companies Licensing Regulation No. (39) of 2021 and its amendments. This guide outlines the criteria and procedures for obtaining, renewing, or canceling an exchange company license, as well as for temporary cessation of operations. It explicitly nullifies previous licensing instructions from 2007 and 1992, requiring applicants to meet new conditions for ownership structure, management suitability, and location requirements, and to submit applications with specific documentation within 60 days for deficiency notification and 90 days for preliminary approval.
In the name of God, the Most Gracious, the Most Merciful
[Central Bank of Jordan Logo]
No.: 14747/1/9 Date: 5 / 5 / 1445 AH Corresponding to: 23 / 8 / 2023 AD
Circular Subject: Licensing Guide for Exchange Companies
Greetings,
In light of the issuance of the Exchange Companies Licensing Regulation No. (39) of 2021 and its amendments, which included licensing conditions and requirements, and to keep pace with the rapid developments in the nature of business and services provided by the exchange sector in the Kingdom, the following are attached: 1- The Licensing Guide for Exchange Companies. 2- Approved forms for licensing an exchange company, renewing its license, and temporarily ceasing exchange operations. 3- Appendix of minimum requirements for the company's location.
It is noted in this regard that both the instructions for licensing limited liability exchange companies issued under the Central Bank Board of Directors' decision dated 27 / 2 / 2007 and its amendments, and the instructions and conditions for licensing exchange companies issued under the Central Bank Board of Directors' decision dated 30 / 7 / 1992 and its amendments are deemed null and void.
Please accept our highest regards,
Governor Dr. Adel Al-Sharkas [Signature]
- Attached (2). Form (1/1-1/1) Classification Level: Public Classification Level: Public P.O. Box 27 • Amman 11118 Jordan • Tel 4630301 • Fax 4638889 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo
[Central Bank of Jordan Logo]
Licensing Guide for Exchange Companies
Central Bank of Jordan